Mara Developments Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:

33-35 Grosvenor Road

Belfast

BT12 4GR

Northern Ireland

The presentation currency is £ Sterling and the level of rounding is to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis.

2.3. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities

2.4. Tangible Fixed Assets and Depreciation

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Fixtures & Fittings

10%-50% straight line

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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Mara Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.6. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The

carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

2.7. Cash & cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.8. Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2.9. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2.10 Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not

be able to collect all amounts due according to the original terms of the receivables.

2.11 Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2025: 3)

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Mara Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 July 2025	27,971

As at 30 June 2026	27,971

Depreciation
As at 1 July 2025	26,743
Provided during the period	774

As at 30 June 2026	27,517

Net Book Value
As at 30 June 2026	454

As at 1 July 2025	1,228

5. Stocks

	2026	2025
	£	£
Stock	2,150,000	2,250,187

6. Debtors

	2026	2025
	£	£
Due within one year
Prepayments and accrued income	8,667	13,330
VAT	915	161
Directors' loan accounts	3,148	652,278

	12,730	665,769

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Bank loans and overdrafts	730,000	312,010
Other creditors	484	-
Accruals and deferred income	18,600	28,269
Amounts owed to group undertakings	550,000	900,000

	1,299,084	1,240,279

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	605,000	1,600,000

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Mara Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

10. Related Party Transactions

The company has taken advantage of the exemption in section 33.1A of FRS 102 from disclosing transactions with entities that are wholly owned within the same group. This exemption applies as the Company is a wholly owned subsidiary of McCausland Group Limited, and its results are included in the consolidated financial statements of the parent, which are publicly available

11. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. Ultimate Parent Undertaking and Controlling Party

The ultimate parent undertaking is McCausland Group Limited (incorporated in Northern Ireland). Its registered office is 33 - 35 Grosvenor Road, Belfast, Northern Ireland, BT12 4GR.

13. Audit Information

The auditor's report on the accounts of Mara Developments Limited for the year ended 30 June 2026 was unqualified.

The auditor's report was signed by Brian Stewart (Senior Statutory Auditor) for and on behalf of RBCA Limited , Statutory Auditor.

RBCA Limited

Chartered Accountants

Linenhall Exchange, 26 Linenhall Street

Belfast

BT2 8BG

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		454		1,228

			454		1,228
CURRENT ASSETS
Stocks	5	2,150,000		2,250,187
Debtors	6	12,730		665,769
Cash at bank and in hand		144		-

		2,162,874		2,915,956
Creditors: Amounts Falling Due Within One Year	7	(1,299,084 )		(1,240,279 )

NET CURRENT ASSETS (LIABILITIES)			863,790		1,675,677

TOTAL ASSETS LESS CURRENT LIABILITIES			864,244		1,676,905

Creditors: Amounts Falling Due After More Than One Year	8		(605,000 )		(1,600,000 )

NET ASSETS			259,244		76,905

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			259,242		76,903

SHAREHOLDERS' FUNDS			259,244		76,905